Скачать или смотреть CannaRoyalty Corp (OTCQX: CNNRF) (CNSX: CRZ) targets vape customers with 180 Smoke takeover

CannaRoyalty Corp (OTCQX: CNNRF) (CNSX: CRZ) targets vape customers with 180 Smoke takeover - RICH TV LIVE - October 2, 2018 - As Ontario’s proposed cannabis retail plans may irk producers that are capped to just one storefront, Ottawa-based CannaRoyalty Corp. is aiming to make itself a leader in the province with its move to buy a vape shop chain.

CannaRoyalty is purchasing 180 Smoke for $25 million with an additional $15 million to be awarded upon completion of certain targets by the end of 2020, the company said in a statement released late Thursday.

In an interview on BNN Bloomberg, Afzal Hasan, president and general counsel of CannaRoyalty, said the purchase will help it draw customers as 180 Smoke’s established base of users are already aware of smoking products through vaping.

“When we took a look at the customer streams that were coming through the door in various businesses, 180 Smoke was appealing because they surveyed their customers and 80-per-cent-plus were cannabis users too,” Hasan said. “It’s a very interesting, captive market.”

180 Smoke and its subsidiaries, including 420 Wellness, currently have 26 locations in Canada – 15 of which are in prime locations throughout Ontario – that sell vaping, nicotine-related products and parts.


Marijuana for vaping – along with other pot products like edibles and beverages – will remain banned until October 2019 when Canada legalizes the drug next month.

“180 Smoke has already targeted prime locations where … they see large amount of foot traffic and pedestrian attraction into these stores,” Hasan said.

CannaRoyalty said it expects the “vast majority” of 180 Smoke’s retail portfolio to be eligible for retail cannabis sales after marijuana becomes legal on Oct. 17. The vape chain’s revenue grew more than 50 per cent in the eight months to August from a year ago to $6.78 million, CannaRoyalty said.
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